Social Media for IFAs
Every business, whether it’s professional, retail or commercial can make the most of social media marketing! In this blog we are going to explore social media for Independent Financial Advisers (IFAs).
- By Terri Juniper
- April 4, 2020
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As an Independent Financial Adviser of any size, social media and marketing in general can be a tricky subject! There are strict regulatory rules to comply with from the Financial Conduct Authority, so creating content is made even more difficult! But fear not. We have created this handy blog post to aid your social media needs.
Social media can be a powerful tool for any business, but it’s important to understand its purpose and your goals. Social media is brand awareness, it tells your audience all about your business on a regular basis. It’s a platform which allows your to broadcast your messages on a daily and weekly basis. Unlike other forms of marketing, such as websites, it can be updated regularly, without hassle!
Social media for independent financial advisers should focus on the business and the people. Below we have outlined three main social media channels that we believe are the best platforms for IFAs to start with.
Facebook is a powerful marketing tool, as it’s a highly social platform it’s creates the perfect environment for promoting the people behind your business. Don’t focus on talking about your services, this is regulated and can make content creation slow. Instead focus on the team. The job of an IFA is personal, you work closely with your clients so it’s important they feel comfortable and familiar with yourself and the team.
Use this to your advantage. Create updates showcasing the team, their experience, their likes, history. Make it personal! Even if you have a small team. Document your day, networking events, coffee meetings, they all show the people behind the logo.
Rotate these real world updates with office images, tours and videos. Even talking about onsite parking and how to find reception if you’re in a large building will make all the difference. It will make your clients feel at ease before they walk through the door!
Essentially, you are using Facebook to eliminate fears. Show them the real people, show off your day to day workings and answer their questions about your location before they even ask.
Initially created as a fast paced, microblogging platform, Twitter is a fantastic site for growing a community and interacting with potential clients on a 121 basis. Following a similar structure to Facebook, talk about the people, interact as the business owner and not the business.
Unlike many social media platforms, you can freely follow users and start conversations without the need for advertising. Start by following local communities, other businesses in your local area. Why not take part in Twitter hours such as #LancashireHour or #PrestonHour.
Most regions have their own hours that take part throughout the week. All you need to do is tweet using the hashtag. Don’t just broadcast, make sure you respond to other users, start conversations and retweet updates to show your support. It’s a great way to make friends within your local community.
You can used LinkedIn two ways, either as a personal user or a business page. It’s worth starting a business page and organically growing your followers over time. Post regularly and encourage LinkedIn users to follow the page. Alongside this, we suggest using your personal profile to post regular updates.
There are several advantages to using a personal profile including to ability to add fellow professionals and to start conversations with users. Post updates about your day to day activities on your personal profile and encourage conversations, asking questions and becoming a beacon in the online community. You want people to think of you when recommending a potential IFA!
For your business page, profile the business and the team. It’s also worth writing a few updates, say 10-15 that you could use over a month or so and having them okayed by the financial regulator. You can add these updates in and around daily posts about the team. This way you have more content to play with!
Remember to keep is slow and steady across all social media platforms. If you’re managing everything in-house, maybe start with one profile and when you’re comfortable add another into the mix. Don’t post content for the sake of it, three high quality updates a week are more valuable than seven that have no purpose.
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